Commerzbank gets five final bids for Spanish property loans-sources

Reuters Staff

1 Min Read

FRANKFURT, May 6 (Reuters) - Commerzbank AG has attracted five final bids for a multi-billion-euro portfolio of Spanish property loans, being sold as it takes advantage of a recovery in the country's real estate market to help clean up its finances, sources said.

Germany's second-biggest lender is expected to enter exclusive negotiations with one of the bidding consortiums within four weeks and will likely sign a deal by the end of the quarter, added the people close to the transaction.

Commerzbank declined to comment. (Reporting by Arno Schuetze; Editing by David Holmes)